Property

Old Quarter residents to be relocated

Hanoi plans to build a residential complex in Long Bien district for Old Quarter residents in order to ease overpopulation.

by Nguyen Quynh

The Hanoi People’s Committee has passed a construction plan to relocate households in the Old Quarter in Hoan Kiem district to Long Bien district.

A complex is to be built for the purpose at the Viet Hung New urban area in Long Bien district, including 16 residential buildings, a commercial centre, and social facilities such as a kindergarten and a health clinic.

Project investors will be selected at an auction conducted by the Hanoi People’s Committee. The investors will be allowed to use 15 per cent of floor space to conduct business. The Hoan Kiem District People’s Committee will supervise the project to oversee progress.

According to a decision signed by the Deputy Chairman of the Hanoi People’s Committee, Le Ngoc Tuan, on December 22, investors must sell houses at prices without exceeding the project’s total investment capital and 10 per cent of construction costs.

Households who are displaced from the Old Quarter are allowed to buy a house or, if they are unable to do so, can lease a house.

The plan targets to relocate 6,500 households, to reduce population density in the Old Quarter. In recent years its infrastructure has decayed because of population overload.